Cancer is a condition associated with the uncontrollable growth of the cell in the body. Over 100 types of cancer are observed in the human body. Stem cells are cells which are required for the maintenance of healthy tissue, where cells continually been replaced. They are undifferentiated cells and thus has got a huge application in the treatment of the various diseases. A number of different types treatment are used in the cure of cancer however, stem cell is expected to be one of the most prominent therapy for the treatment with minimal side effects. Many major pharmaceutical and research organization are trying to introduce new and advanced treatment options.

Market Dynamics

The major driving factors for the market are increasing prevalence of cancer, increasing need for the better treatment and increasing government support. According to American Cancer Society, about 1.7 million new cancer cases are expected to be diagnosed by the end of 2018 and approximately 609,640 Americans are expected to die of cancer in 2018 i.e. 1,670 deaths per day. Increasing spending on research and development has boosted the growth of the market. Cancer Research UK have spent USD 518 million on cancer research across the U.K to accelerate progress and increase cancer surviving rate by 75% by 2034. The organization is also aiming to increase the proportion of GDP spend on R&D to 2.6% by 2023. Additionally, increasing per capita income of the people, favorable reimbursement policies, and increasing awareness about availability of treatment have supported the growth of market.

However, availability of the alternative treatment may slow the growth of the market.

Market Classification and Overview

The global cancer stem cells market is segmented into types, end users, and region.

On the basis of types, the market is segmented into breast cancer, blood cancer, brain cancer, colorectal cancer, skin cancer, and others.

Based on the end users, the market is segmented into oncology center, diagnostic & research laboratories, and others.

Regional Overview

Geographically, the global cancer stem cells market is bifurcated into four regions such as North America, Europe, Asia Pacific (APAC), and Latin America, Middle East & Africa (LAMEA).

North America is one of the leading markets across the globe owing to high prevalence of various cancers in region including lung cancer and breast cancer, and ovarian cancer, among others. According to the American Cancer Society, in 2016, over 15.5 million people survived of cancer and the number is expected to reach 20.3 million by 2026 in the U.S. Additionally, to meet the upcoming demand and grab the major share of the market, most of the key players are heavily investing in research and development activities and using modern technologies in R&D in this region which has supported the growth of the market.

Increasing government support and growing expenditure on R&D are projected to drive the Europe cancer stem cell market. France and Germany are the largest contributors to Europe market growth owing to increasing investments in health care and cancer research. Asia Pacific is the fastest growing region. However, Latin American and the Middle Eastern countries including Saudi Arabia, United Arab Emirates (UAE), and Kuwait are projected to drive the LAMEA market as result of increasing demand for specialty care services and growing healthcare sector. On the other hand, Africa is estimated to witness moderate growth.

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